Shiba Inu Defies Market Decline with Credit Card Buying Surge

Shiba Inu continues to defy the broader market trend, with its price remaining relatively stable despite the decline of major cryptocurrencies such as Bitcoin and Ethereum. According to CoinGecko data, SHIB trades at $0.000005135 with a $3.025 billion market cap, up over 0.8% in 24 hours.

The surge is largely attributed to the increasing ease of buying memecoins using credit cards, which has sparked scrutiny from JPMorgan's Chase and New York regulators. Robinhood Wallet and the social trading app Fomo have made it possible for users to buy memecoins such as WIF directly through Crossmint, using Visa, Mastercard, Apple Pay, and Google Pay without completing separate KYC checks.

However, this classification has been questioned by Chase, which has asked Visa to investigate. The New York Attorney General's office is also reviewing the matter. Despite the controversy, the Shiba Inu community is linking easier card access to memecoins with today's uptick in price.